Top banks hog crisis IG mandates

By Jon Hay
01 Apr 2020

Extraordinary times call for extraordinary capital markets activity. The North American corporate bond market funded a staggering record $194bn of investment grade issues in March while Europe has also been busy — shaking up the league tables and yielding a surprise windfall for the very largest investment banks.

Issuance by North American companies in March was exceptional: half as much again as the previous record of $128bn in May 2016, using Dealogic figures.

In Europe, even though the euro corporate bond market was closed for much of the first two-thirds of March, and sterling was closed ...

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